JTL Industries Share Price Gains As Q2 Sales Jump 26%
Shares of JTL Industries Ltd. jumped over 2% during the final hour of trade on Tuesday, as the company announced a 26% jump in its sales volume during the quarter ended September 2024.
The pipes and tube manufacturer recorded its highest-ever quarterly sales volume of 1.3 lakh metric tonnes in the second quarter. This marked a growth of 26.3% compared to 81,686 MT achieved in the year-ago period.
For the first half of this fiscal, the company recorded total sales of 1.99 lakh MT, marking a growth of 25.4% over 1.59 lakh MT in the year-ago period.
"Export sales continued to grow, with H1FY25 export volumes reaching 18,219 MT, a significant increase from 8,897 MT recorded in H1FY24. This represents a growth rate of 104.74%," the company said in a release.
The share of exports stood at around 9.13% of the total sales volume for the first half of this fiscal, it noted.
"Looking ahead, we maintain an optimistic outlook as India continues to witness strong demand for structural steel, driven by significant government spending on infrastructure and nation-building initiatives funded by private and public capital expenditures," it said.
JTL had, in April this year, acquired Punjab-based Nabha Steels and Metals. The company emerged as a "significant contributor" for the strong performance logged in the fiscal so far, the management said. "Following the successful commercialisation of the first phase, Nabha Steels achieved a total sales volume of 23,502 MT in H1FY25," it added.
JTL Industries Share Price
Shares of JTL rose as much as 2.44% to hit an intraday high of Rs 240 apiece on the NSE. They pared some gains to close 2.39% higher at Rs 239.90 per share, compared to a marginal decline of 0.05% in the benchmark Nifty 50.
The stock has gained by 0.53% year-to-date, and by 7.4% over the past 12 months.
The two analysts tracking the company have a 'buy' rating, according to Bloomberg. The average of 12-month analysts' price targets implies a potential upside of 20%.
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